Cochin Shipyard share price: Why shipbuilding stock could be in focus on Thursday, Sept 3

Shares of Cochin Shipyard (CSL) are likely to be in focus on Thursday, September 3, as the company on Wednesday began construction of four advanced battery-electric harbour tugs for global towage and marine services provider Svitzer.

This marked a step forward in India's efforts to build green vessels locally.

The construction began with a formal steel-cutting ceremony at Cochin Shipyard, a CSL statement said.

The four vessels are next-generation battery-electric TRAnsverse 2600e tugs and are among the most advanced green tugs being built in the world, it said.

The shipbuilding agreement between CSL and Svitzer was signed in December 2025 and covers a minimum of four vessels. It also reflects Svitzer's growing investment in India's maritime supply chain.

Key details

The vessels are being built to Svitzer's specifications and are designed for demanding harbour operations. They will use battery-electric propulsion and, when charged with green power, will have zero direct emissions during port and terminal towage operations.

Speaking at the ceremony, CSL Chairman and Managing Director Jose V J said the partnership would help strengthen the company's shipbuilding capabilities while contributing to efforts to reduce emissions in the maritime sector.

"It is a proud moment for CSL to partner with Svitzer for the construction of four fully electric TRAnsverse 2600e harbour tugs, and we look forward to strengthening this association further through our shipbuilding capabilities and expertise. CSL will thus be playing a crucial role in advancing the sector's decarbonisation goals," the chairman said.

Svitzer Chief Operating Officer Kasper Karlsen said the TRAnsverse design was aimed at making vessel movements faster and more predictable while improving the use of existing port infrastructure.

"This is proven technology, with over 3,000 commercial towage jobs having been completed with the class, and Svitzer has 18 TRAnsverse vessels under construction worldwide," he said.

Svitzer Managing Director for Asia, Middle East and Africa Deniz Kirdar True said the company had evaluated shipyards across the world before selecting CSL.

"Four fully electric TRAnsverse 2600e tugs now begin construction here in Cochin -- among the most advanced green tugs being built anywhere -- and the capability to build them stays in India," she said.

The collaboration is in line with the Centre's Maritime India Vision 2030, Maritime Amrit Kaal Vision 2047 and the "Make in India" programme.

The vessels are also expected to support India's Green Tug Transition Programme while helping build domestic expertise in electric propulsion and high-specification vessel construction.

The steel-cutting ceremony comes at a time when the Centre is focusing on strengthening India's domestic shipbuilding industry.

Following measures announced in the Union Budget 2025-26, the government adopted a four-pillar strategy to revitalise the shipbuilding sector.

It has also approved a comprehensive package of Rs 69,725 crore to strengthen domestic shipbuilding capacity, maritime financing and skill development.

About the TRAnsverse 2600e

The TRAnsverse 2600e is the battery-electric version of Svitzer's next-generation tug design, developed for demanding harbour operations. Often described as the "Swiss Army Knife" of tugs, the TRAnsverse design is capable of operating in complex and close-quarter environments, across different ship types and sizes and under challenging weather and tidal conditions.

"The vessels feature battery-electric propulsion and, when charged using green power sources, will enable zero direct emissions for port and terminal towage operations," the press release added.

About Svitzer

Founded in 1833, Svitzer is a global provider of harbour and terminal towage services. The company operates a fleet of around 510 vessels and serves customers across 157 ports and 46 terminals in 38 countries.

It has about 4,500 employees and provides towage services for vessels entering and leaving ports and terminals.

Svitzer is also investing in lower-emission marine operations, including battery-electric tugboats and its EcoTow solutions, as part of its decarbonisation strategy.

About Cochin Shipyard

Cochin Shipyard Limited (CSL) is a state-owned shipbuilding and ship-repair company under the Ministry of Ports, Shipping and Waterways.

Incorporated in 1972, CSL is among India's leading integrated shipbuilding and repair yards, with operations spanning defence and commercial vessels, ship repairs, and offshore structures.

The company can build vessels of up to 1,10,000 DWT and repair ships of up to 1,25,000 DWT.

CSL has built several strategically important vessels, including India's first indigenous aircraft carrier, INS Vikrant, and has also exported vessels to international markets.